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Board reviews amendment to allow TID No. 3 to receive transfers from TID No. 2
Summary
Board members heard a proposal to amend the TID No. 3 project plan to permit revenue transfers from TID No. 2; questions focused on cash-flow figures and graphic revisions, and the board took no action.
At the June 1 meeting Kristin Fish-Peterson of Redevelopment Resources presented a proposed project-plan amendment for Tax Incremental District No. 3, a 27-year downtown district. Fish-Peterson said the district’s downtown designation limits its development area, which contributes to slower expected growth; the proposed amendment would allow TID No. 3 to receive revenue transfers from TID No. 2 that had been intended in the original plan but were omitted. "TID No. 3 is a 27-year district because it is designated as a downtown district, which has a more limited area available for development," the presenter said.
Adam Pfost asked whether the incremental cash flow had been reflected in the updated figures included in the document and suggested that the graphics be revised to present more accurate financial information. The board did not take action on the amendment during the meeting.
